In order to improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors and internal auditors of 23 credit cooperatives on Oct. 13, 2023.

The session topics included the main examination findings of recent full-scope examinations, the legal compliance and internal audit project inspection, the branch internal management project inspection, and the description of major inspection deficiencies and improvement practices regarding personal information protection and fraud prevention. The FSC also promoted the importance of anti-fraud, anti-corruption elections and gender equality.

With two-way communication, it allowed credit cooperatives to better understand the supervisory concerns and the examination focuses. The FSC will hold the colloquium periodically in the future to facilitate the sound development of the credit cooperative industry.